ZERVOS: 'This Is A Nuclear War On Savings And Wealth'http://www.businessinsider.com/zervos-this-is-a-nuclear-war-on-savings-and-wealth-2013-3/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 03 Mar 2015 18:29:10 -0500Joe Weisenthalhttp://www.businessinsider.com/c/5148044d6bb3f7271b000012Alan Carl BrownTue, 19 Mar 2013 02:23:09 -0400http://www.businessinsider.com/c/5148044d6bb3f7271b000012
I'm with you in spirit, but the debt of the US has to be paid back in a currency the US can devalue at will. So it can actually just steal the money from all current dollar holders instead of just depositors, simply by printing all that it needs.
That does run the risk that the dollar will be rejected as the reserve currency and foreigners will spend their dollars, pushing up prices for everybody that still uses dollars. Trillions of dollars now held out of the active supply will become active.
So it could be that they will need to remove liquidity from the system at the same time they need to print to take of debt because of exploding rates. it could be quite a mess.
But who knows how it will actually go down. Its impossible to predict.http://www.businessinsider.com/c/5147c6fe69bedd085d000008johnny VentisMon, 18 Mar 2013 22:01:34 -0400http://www.businessinsider.com/c/5147c6fe69bedd085d000008
They will give the money back when banks reopen on Thursdayhttp://www.businessinsider.com/c/5147af41eab8eaf33e000009rotorhead1871Mon, 18 Mar 2013 20:20:17 -0400http://www.businessinsider.com/c/5147af41eab8eaf33e000009
let them bake a cake....with others cash.......then they can all eat it together.....sure...right.....http://www.businessinsider.com/c/5147ae5369bedda11d000011rotorhead1871Mon, 18 Mar 2013 20:16:19 -0400http://www.businessinsider.com/c/5147ae5369bedda11d000011
THINGS ARE GONNA GO BAD FOR THE MEGA RICH.....there is a lot of inequality that is being noticed by 6 billion plus people.....who work for a living.......they are becoming mad as hell....and they aren't going to take it too much longer....the rich control too much of the governments ... and that will change...http://www.businessinsider.com/c/514788dfeab8ea3e64000005KenJunoYahooMon, 18 Mar 2013 17:36:31 -0400http://www.businessinsider.com/c/514788dfeab8ea3e64000005
Joe....you are a statist....so Im sure u suppport these statist policies.
Got Gold..bitchez?!!?!?http://www.businessinsider.com/c/514760f8ecad045474000007Nolan KennardMon, 18 Mar 2013 14:46:16 -0400http://www.businessinsider.com/c/514760f8ecad045474000007
Those of you who have a 401K, IRA or similar should take note.
When the USA total debt is $40 trillion or above they will go after you too.
If Democrats retain control it will be like the PRI party that ran Mexcio: it was a 71 year monopoly.
Your assets will be taxes in numerous and clever ways by the Democrats because there is already a gigantic welfare class and the interest payments on the total debt will grow too huge.
You better vote as if your retirement and future depend on it because it does.
Obama and his ilk are expecting to steal some of your assets as you get older. They are perfectly happy to tax your retirement to redistribute downward to the underclass.
Taxes, not stock portfolio performance, are the biggest threat to your future net worth.http://www.businessinsider.com/c/51474462eab8eaff4000001fno one was forced - they have a choiceMon, 18 Mar 2013 12:44:18 -0400http://www.businessinsider.com/c/51474462eab8eaff4000001f
There is a choice here, and Cyprus is not being forced: leave the eurozone or take the haircut, which should succeed in taxing plenty of money laundering anyway; this should also succeed at keeping money from being deposited in weaker countries or having them think of not sticking to bailout conditions. Pretty rational if you ask me.
The question is: why do they want the Euro when their only option is to print money? Ego? Insanity? Lack of belief in themselves? Proven inability to reign in the incompetent and the corrupt?http://www.businessinsider.com/c/51472b33eab8ea6a0c000001ObbopMon, 18 Mar 2013 10:56:51 -0400http://www.businessinsider.com/c/51472b33eab8ea6a0c000001
Class warfare.
The ruling elites, BIG corporations, special-interest groups and their minions, cohorts and lackeys will do whatever required to ensure the privileged minority keeps their status while skimming wealth from the masses of common folks who create the wealth.http://www.businessinsider.com/c/51471096ecad04b55a000006DMEMon, 18 Mar 2013 09:03:18 -0400http://www.businessinsider.com/c/51471096ecad04b55a000006
This is the guy who just told us he felt sorry for the bears. Don't worry the central banks will keep printing just as long as they have electricity and RAM left on their computers.http://www.businessinsider.com/c/51470a2369bedd8579000007ppipMon, 18 Mar 2013 08:35:47 -0400http://www.businessinsider.com/c/51470a2369bedd8579000007
They can call it ANYTHING they want, because, what are you going to do about it?http://www.businessinsider.com/c/514707b769beddcb6d00001fGringo Bush PilotMon, 18 Mar 2013 08:25:27 -0400http://www.businessinsider.com/c/514707b769beddcb6d00001f
You are in a boat. Your country, your ship-of-State. You allow outsiders (dark money) to load your boat with contraband. Your boat (banking system) starts to sink because the outsiders (dark money) have no stake in the sea-worthiness of your boat.
The boat captain (your government) accepts help from a much bigger rescue ship (Germany), what do you choose? Loose everything (like the US in 1927) or pay to patch your boat so you can get to shore before it sinks?
Don't bite the hand that feeds you.http://www.businessinsider.com/c/51470385ecad042843000005Sabre SbrMon, 18 Mar 2013 08:07:33 -0400http://www.businessinsider.com/c/51470385ecad042843000005
This was the same ass clown who last week said the bears were clueless. Wow, no one could see this coming, what with Europe being fixed and all. What's that? It was never fixed? The popular press simply ignored Europe so it was fixed and the Spoos run a mile. Central planning at its finest.http://www.businessinsider.com/c/5146e34a6bb3f76e74000031iain greigMon, 18 Mar 2013 05:50:02 -0400http://www.businessinsider.com/c/5146e34a6bb3f76e74000031
The fall out from this ill conceived plan ranges from massive bank runs across the euro zone to destruction of the euro and eec. This tax will be seen by the average person as state theft. Democratic government is by the consent of the people. Raiding bank accounts is a good way to lose it..This will get ugly.http://www.businessinsider.com/c/5146dfa4ecad041e7b000024EU WEALTH TAXMon, 18 Mar 2013 05:34:28 -0400http://www.businessinsider.com/c/5146dfa4ecad041e7b000024
FRANCE IS CONSIDERING A WEALTH TAX OF 20%.http://www.businessinsider.com/c/5146d5c069beddd97c000005Skull & BonesMon, 18 Mar 2013 04:52:16 -0400http://www.businessinsider.com/c/5146d5c069beddd97c000005
To even refer to the Cyprus bailout condition as a "deposit tax" is sheer Bat $hit lunacy. Let's call a spade a spade here.......OUTRIGHT PREMEDITATED THEFT under the cover of a national holiday weekend speaks volumes as to how the global crisis will be resolved by governments around the globe. Let history be your guide......when it gets serious......the people always bear the costs.http://www.businessinsider.com/c/5146d55469bedd447a00001ajumped the gunMon, 18 Mar 2013 04:50:28 -0400http://www.businessinsider.com/c/5146d55469bedd447a00001a
your vigilance is generally appreciated, but that's a valid link to The Independent, just a very loong one.http://www.businessinsider.com/c/51469dc6ecad04b57b00002aThe Future is HEREMon, 18 Mar 2013 00:53:26 -0400http://www.businessinsider.com/c/51469dc6ecad04b57b00002a
In the future ? You can get any ammo RIGHT NOWhttp://www.businessinsider.com/c/51469297ecad048f6c00000epark city skierMon, 18 Mar 2013 00:05:43 -0400http://www.businessinsider.com/c/51469297ecad048f6c00000e
They shouldn't bail them out at all let them go bust. Can you imagine the US taxpayers bailing the banks out in the cayman Island. 80% of the money(deposits) in Cyprus banking system is from Rich Russians. The Germans must freaking out about bailing Russians mobsters and oligarchs out with tax payer money. David Zervos is upset that tail risk is again here, that the central banks of the world are not backstopping 100% of global risk. Maybe the Witch Drs will be right in the end!!!!!http://www.businessinsider.com/c/51468f76eab8ea6b32000010THIS IS BLATANT THEFTSun, 17 Mar 2013 23:52:22 -0400http://www.businessinsider.com/c/51468f76eab8ea6b32000010
This is theft. The people who have their money in the banks are costumers. The banks are stealing 60 Billion from their costumers. I have warned my European friends and family about this possibility, at least 10 years ago. Personally, keep very little money in the banks in the U.S,
I do not trust them either. There is not enough money to bail out the banks customers if something horrible can/could happened. You money is not safe either.
The EU is a dictatorship these people are unelected.
These 'elite' use the excuse that it is ' white washed money ' even if that is true. The fact is that these banks really screwed up. And should go bankrupt. Look at Island, they took these greedy stupid bankers to court, Island government at least protected the rights of its citizens. One of those greedy bank thief, wanted 3 million bonus. Yes, he did get close to it. 1.6 million as a ' LOAN." Yes he could get money out on time.
Puur evil !http://www.businessinsider.com/c/51468e0669bedde451000003Betsy RossSun, 17 Mar 2013 23:46:14 -0400http://www.businessinsider.com/c/51468e0669bedde451000003
Stock Creeper spammer again. Please don't reply. Please don't thumb. Just flag as offensive.http://www.businessinsider.com/c/51468ddc69bedd784e000017Betsy RossSun, 17 Mar 2013 23:45:32 -0400http://www.businessinsider.com/c/51468ddc69bedd784e000017
Stock Creeper spammer. Please don't reply. Please don't thumb. Just flag as offensive.http://www.businessinsider.com/c/51468157ecad049750000001Scott SneedSun, 17 Mar 2013 22:52:07 -0400http://www.businessinsider.com/c/51468157ecad049750000001
You went to the bank today? I thought they were
closed on Sunday? (i do believe you that the bank might
try to put a $3,000 limit on withdrawals) Oh well, I guess
that I'll have to go to the bank about 8 times.http://www.businessinsider.com/c/5146806d69bedd5e2b000015Johan Sun, 17 Mar 2013 22:48:13 -0400http://www.businessinsider.com/c/5146806d69bedd5e2b000015
The Cyprus solution maybe a nice solution for the to big to fail banks problem !!!!!!!!!!!!!
Just tax the people a 2 to 3 year interestrate tax.
Greetings and we have a nice economic experiment life in front of us going on this week.
First results will be seen by the end of the week.
Economics by experimenting aroud.http://www.businessinsider.com/c/51467cce69beddd127000008fairdinkumSun, 17 Mar 2013 22:32:46 -0400http://www.businessinsider.com/c/51467cce69beddd127000008
refer to <a href="http://www.independent.co.uk/news/world/europe/moscows-mafia-finds-an-island-in-the-sun-cyprus-is-awash-with-dubious-dollars-from-russia-robert-fisk-reports-from-limassol-on-the-visitors-with-private-jets-bulging-suitcases-and-a-reluctance-to-answer-questions-1381056.html" target="_blank" rel="nofollow" >http://www.independent.co.uk/news/world/europe/moscows-mafia-finds-an-island-in-the-sun-cyprus-is-awash-with-dubious-dollars-from-russia-robert-fisk-reports-from-limassol-on-the-visitors-with-private-jets-bulging-suitcases-and-a-reluctance-to-answer-questions-1381056.html</a>
The war is on laundered Russian money. I would advise those deciding things in Cyprus to increase personal securityhttp://www.businessinsider.com/c/51467ccbeab8eae80c000008JacksterSun, 17 Mar 2013 22:32:43 -0400http://www.businessinsider.com/c/51467ccbeab8eae80c000008
maybe those sub-zero TIPS aren't so bad after all.http://www.businessinsider.com/c/51467a0deab8ea6b0200000eRopingdownSun, 17 Mar 2013 22:21:01 -0400http://www.businessinsider.com/c/51467a0deab8ea6b0200000e
Truly remarkable: The Cypriot government has decide to safe the banks to save 8,000 jobs, they announced. So they're confiscating savings from little people. But the 8,000, it is also asserted, were in the business of money laundering, which is why the heavy hit to Russian deposits is fine. Why not let the Cypriot banks collapse, back everything under 100,000, and let healthier foreign banks establish Cyprus subsidiaries to provided services? Because everybody wants to save the money laundering business! It is nuts, and indicative of the ECB/Council at the moment,http://www.businessinsider.com/c/514679ab69beddde22000001the kiLLing JokeSun, 17 Mar 2013 22:19:23 -0400http://www.businessinsider.com/c/514679ab69beddde22000001
Just when idiots like Zervos or Weisenthal think they have all the answers, reality changes the questions. Who's living in the dark ages now dummies.http://www.businessinsider.com/c/514679a46bb3f7a62e000020Big MacSun, 17 Mar 2013 22:19:16 -0400http://www.businessinsider.com/c/514679a46bb3f7a62e000020
Isn't this the same guy who called the "bears" witch doctors a couple of days ago on this blog? Joe W - Please call him out on this! I guess the "whocouldhaveknown" perma bullls should be taking some lessons from those witch doctors! I know who I will be listening to as this crisis unfolds.http://www.businessinsider.com/c/5146788beab8ea680200000dNewspeakSun, 17 Mar 2013 22:14:35 -0400http://www.businessinsider.com/c/5146788beab8ea680200000d
What is the difference between taking the tax out or create a hidden tax called inflation, what the Federal Reserve is doing right now? They are buying up the debts from the bad bets that are being made on WallStreet right now. The world is suffering due to these banksters and the governments who have gone wild. No accountability has led to this, why the people kept themselves entertained with movies and "Dancing with the Stars."http://www.businessinsider.com/c/51467770eab8eaa77900001dThis Is Why I Paid Off My HouseSun, 17 Mar 2013 22:09:52 -0400http://www.businessinsider.com/c/51467770eab8eaa77900001d
Further, the Fed, SEC. FDIC and US Treasury are also working to allow 401K money market funds to break-the-buck. The ultra-rich get to then steal the biggest pot-of-gold (St Patrick's Day) from the working class poor. There is nowhere to hide.http://www.businessinsider.com/c/5146767deab8ea1002000001Prisonplanet.comSun, 17 Mar 2013 22:05:49 -0400http://www.businessinsider.com/c/5146767deab8ea1002000001
They are just following the American model, the only difference, is the American policy makers lie through their teeth and force the NEXT generation to pay for it. Its the ultimate kicking of the can. Time to torch ALL the central bankshttp://www.businessinsider.com/c/5146766769beddae11000011amcynicSun, 17 Mar 2013 22:05:27 -0400http://www.businessinsider.com/c/5146766769beddae11000011
That's exactly what they're doing. Confiscating all private retirement savings and promising you some piss annuity in return for stealing it.
<a href="http://www.americanthinker.com/2013/02/the_feds_want_your_retirement_accounts.html" target="_blank" rel="nofollow" >http://www.americanthinker.com/2013/02/the_feds_want_your_retirement_accounts.html</a>http://www.businessinsider.com/c/51467518eab8ea8974000025amcynicSun, 17 Mar 2013 21:59:52 -0400http://www.businessinsider.com/c/51467518eab8ea8974000025
I like how socialists think confiscation of private property can be justified by calling it a tax. As if we're too stupid to see outright theft when its happening.
This is really why the Democrats are being so aggressive in revoking the 2nd Amendment with gun control legislation.
When the debt crises hits the US and the federal government starts confiscating retirement savings and bank deposits to avoid defaulting on the debt, there's going to be a lot of pissed off Americans wishing they had a gun that won't be able to buy one in the future.http://www.businessinsider.com/c/51467481eab8ead57600000bRunNowSun, 17 Mar 2013 21:57:21 -0400http://www.businessinsider.com/c/51467481eab8ead57600000b
Why wait for tomorrow what you can do today ? I went to the bank and they had a restriction already of $3000 per person! About 10 people in line.http://www.businessinsider.com/c/514672a3eab8ea966f00000fkkSun, 17 Mar 2013 21:49:23 -0400http://www.businessinsider.com/c/514672a3eab8ea966f00000f
I prefer "Blindside" but same ideahttp://www.businessinsider.com/c/514670e1ecad04392e000008DMESun, 17 Mar 2013 21:41:53 -0400http://www.businessinsider.com/c/514670e1ecad04392e000008
I think we just spotted our first black swan of the season.http://www.businessinsider.com/c/51466f456bb3f7561d00000dJacksterSun, 17 Mar 2013 21:35:01 -0400http://www.businessinsider.com/c/51466f456bb3f7561d00000d
This is shocking. I would be very surprised if it doesn't cause a run - and it could spread.
What returns are people getting on deposits at this point anyhow, it's almost zero percent.
You are literally better of stuffing the mattress.http://www.businessinsider.com/c/514666c66bb3f77112000003Scott SneedSun, 17 Mar 2013 20:58:46 -0400http://www.businessinsider.com/c/514666c66bb3f77112000003
I wonder how long it will take before Obama & Bernanke
put a 10% tax on savings accounts in the USA ? Tomorrow
I'm going to the bank and taking out about half of my savings.http://www.businessinsider.com/c/514666016bb3f7711000000bJohnnySun, 17 Mar 2013 20:55:29 -0400http://www.businessinsider.com/c/514666016bb3f7711000000b
Joe - what is the price of gold doing? Does this change your opinion on gold?http://www.businessinsider.com/c/514665aeecad047a1800000adon robertsSun, 17 Mar 2013 20:54:06 -0400http://www.businessinsider.com/c/514665aeecad047a1800000a
Will other Euro citizens take a lead and do a run on their banks too??
Great way to demo against the those who advocxate high unemployment and austerity measures
Street demos are ignored, BUT if the masses take all their money out of the Banks!!!!!!!!!!http://www.businessinsider.com/c/5146659269bedd5f6f000008JusticeSun, 17 Mar 2013 20:53:38 -0400http://www.businessinsider.com/c/5146659269bedd5f6f000008
How come banksters are put on trials for mismanagement and corruption? You should unleash war on banksters!http://www.businessinsider.com/c/5146653669beddfc6e000005IsangomaSun, 17 Mar 2013 20:52:06 -0400http://www.businessinsider.com/c/5146653669beddfc6e000005
Zervos just realized what witch doctors have known all along. A government that is powerful enough to give you a bull market is powerful enough to take it away.http://www.businessinsider.com/c/514663a36bb3f7230500000bi like bainSun, 17 Mar 2013 20:45:23 -0400http://www.businessinsider.com/c/514663a36bb3f7230500000b
If the libs want to insist America is greece they should feel engraciated to use their stockpiled money to help pay down the debt they so fear <a href="http://tiny.cc/0liutw" target="_blank" rel="nofollow" >http://tiny.cc/0liutw</a>
libs, put ur money where ur mouth is and pay down this debt! lolhttp://www.businessinsider.com/c/51466397ecad043d1600000fFritz PfisterSun, 17 Mar 2013 20:45:11 -0400http://www.businessinsider.com/c/51466397ecad043d1600000f
Hope this doesn't give Obama and senate Democrats any ideas. Naw, they're too busy drawing up their plans to nationalize 401k's and IRA's. Whew!http://www.businessinsider.com/c/51465c54eab8ea843d00001cFormerTurbineGuySun, 17 Mar 2013 20:14:12 -0400http://www.businessinsider.com/c/51465c54eab8ea843d00001c
So was it The Stimulus, Obamacare or Dodd Frank that allowed the Federal Govt to access all your accounts and garnishee or freeze them if you are not buying health insurance? With that as a new norm, what is stopping, those in power form following this new precedent, after all never let a good crisis go to waste, should one arise...http://www.businessinsider.com/c/51465bf4ecad047d0400002dSpunkyBunksSun, 17 Mar 2013 20:12:36 -0400http://www.businessinsider.com/c/51465bf4ecad047d0400002d
Aren't they just forcing everybody into buying "assets" (real estate, stocks, etc.) with their spare cash? If the federal reserve can inflate our stock market (QE), maybe this is how the EU is trying to inflate theirs since they can't print money like us?http://www.businessinsider.com/c/51465acceab8ea813d000004MikentSun, 17 Mar 2013 20:07:40 -0400http://www.businessinsider.com/c/51465acceab8ea813d000004
"A nuclear war on savings and wealth." Using Neutron bombs - you know, the kind that kill everyone but leave the buildings standing. The bankers seem intent on using the Financial Neutron bomb - the kind that takes all your money but leaves you standing.http://www.businessinsider.com/c/51465816ecad04d27800002bc smithSun, 17 Mar 2013 19:56:06 -0400http://www.businessinsider.com/c/51465816ecad04d27800002b
Zervos is the same numbskull who was ripping the bears just last Friday. Now the Cyprus mess is the end of the world. Make up your mind Mr. strategist.http://www.businessinsider.com/c/514657d8ecad04257f000009jeffjjSun, 17 Mar 2013 19:55:04 -0400http://www.businessinsider.com/c/514657d8ecad04257f000009
Wasn't he telling us to get long on Friday?http://www.businessinsider.com/c/5146557969beddd747000014Bankster's BluesSun, 17 Mar 2013 19:44:57 -0400http://www.businessinsider.com/c/5146557969beddd747000014
GOLD! BOOM!
This is going to be great for the gold and silver bullion market... Also for safe makers!
How can we trust these people anymore? The can commit crimes, have the govt blame us, and then make us pay!
I say "screw you"... I will not prepare for my child's future via a bank anywhere!http://www.businessinsider.com/c/5146550deab8ea3438000003dSun, 17 Mar 2013 19:43:09 -0400http://www.businessinsider.com/c/5146550deab8ea3438000003
He's right. I'd much rather unleash a nuclear war on the banks.